15.11.2010

Sanghvi rises 11.5%

Sanghvi Movers, India’s largest crane rental company has reported solid improvements in half rear revenues and profits.

Revenue for the six months to the end of September were 1.75 billion Rupees, ($39.2 million) an increase of 7.8 percent on the same period last year. Profit after tax was 445 million rupees ($9.97 million)

The second quarter saw revenues rise 11.5 percent to 896 million rupees ($20 million) while profits jumped 14.3 percent to 245 million ($550,000).
Sanghvi Movers managing director C.P. Sanghvi, said: “The demand for the cranes and the rentals have remained stable during the quarter. Our capex plans for the year is intact”
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Thomas Hartmann, sales director, Terex Cranes Zweibrücke (L) and Chandrakant P. Sanghvi, chairman and managing director, Sanghvi Movers

The company recently signed a €70 million order with Terex Cranes for 12 large crawler cranes, including four 1,600 tonne CC8800 and eight 600 tonne CC2800 models.